- Weekly stochastic RSI oversold (LONG)
- Daily Stochastic RSI overbought (Short)
My Opinion:
- For those who trade the daily chart, wait until the stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. I would avoid shorting because it goes against the weekly overall trend which is bullish; simply put, the juice is not worth the squeeze shorting in the next few weeks. Longs only when the opportunity arises.
- For those trading long term (weeks or months), wait until the daily stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. Then you should take your position with low leverage.
NB; This is not investment advice, just my personal opinion. I welcome any comments and suggestions or correction. Trading is a learning curve and I am always ready to hear/read the suggestions of more experienced traders. Forgive the accent, I am not a Native speaker.
- Daily Stochastic RSI overbought (Short)
My Opinion:
- For those who trade the daily chart, wait until the stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. I would avoid shorting because it goes against the weekly overall trend which is bullish; simply put, the juice is not worth the squeeze shorting in the next few weeks. Longs only when the opportunity arises.
- For those trading long term (weeks or months), wait until the daily stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. Then you should take your position with low leverage.
NB; This is not investment advice, just my personal opinion. I welcome any comments and suggestions or correction. Trading is a learning curve and I am always ready to hear/read the suggestions of more experienced traders. Forgive the accent, I am not a Native speaker.